The Walmart MoneyCard Review

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Updated on Thursday, January 24, 2019

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The Walmart MoneyCard is one of the heavyweights in the prepaid card industry. In addition to offering a boatload of features, the card overall has fairly low costs for a prepaid card. In many ways, the Walmart MoneyCard operates like a debit or credit card, with the important distinction being that as a prepaid card, you can only make purchases or withdraw cash up to the amount that is available and on deposit.

This makes it different from a debit card, which can overdraw a checking or savings account, or a credit card, which gives you a line of credit to borrow from no matter how much cash happens to be in your bank account at the time.

This card can make particular sense for frequent Walmart shoppers, as it comes with a rewards program for shopping at the store and offers discounted fees for certain actions taken at its stores.

Walmart MoneyCard features

Use on everyday purchases. The Walmart MoneyCard is a reloadable, prepaid debit card that you can use for everyday purchases. Simply present the card at the time of purchase, and you’ll be able to buy things up to the amount you’ve deposited on the card.

High daily spend limit. The daily ATM withdrawal limit is $3,000, and the daily spend limit is $10,000; this is also the maximum amount you can have on the card at any time.

Rewards. One of the interesting features of the Walmart MoneyCard is that it offers a rewards program. When you shop with this card at a Walmart, you can earn cashback rewards, almost as if you were using a cashback credit card. You’ll earn 3% cash back for purchases with the card at Walmart.com, 2% back at Murphy USA and Walmart fuel stations, and 1% back Walmart stores. The total amount of cash back is limited to $75 per year.

Early paycheck direct deposit. The Walmart MoneyCard offers other additional benefits, such as the ability to get your direct deposit up to two days early. Before you can sign up and use this feature, you’ll have to verify with your payroll or benefits provider that they offer this service.

Mobile check deposit and checks available. The features of this card do not end there. Unlike many cards, the Walmart MoneyCard accepts mobile check deposit via your smartphone camera. For a fee, you can also order personalized checks and use your prepaid card balance to pay bills like your rent, as with a normal checking account.

Low on fees. Walmart offers free bill pay service with the MoneyCard, and you can instantly send money for free to any other participating card issued by Green Dot Bank.

The card is protected against unauthorized transactions, and there are never any overdraft fees.

Adding money to the Walmart MoneyCard is easy, but there’s a daily cash reload limit of $2,999, and certain stores may have lower in-house reload limits. Here are the options you have for loading money onto your MoneyCard:

  • Direct deposit
  • Walmart Rapid ReloadTM
  • By check at Walmart
  • Walmart Money Center Express
  • Online bank transfer
  • Tax refund
  • MoneyPak®

If you fund your account via direct deposit, by check at Walmart, via online bank transfer or using your tax refund, there are no fees charged. Fees may apply to Walmart Money Center Express, Walmart Rapid Reload and MoneyPak deposits.

Walmart MoneyCard fees and fine print

The Walmart MoneyCard obviously offers a host of services, but do the costs outweigh the benefits? For the most part, it’s a good deal. Many services that cost money with other prepaid cards are absolutely free with this prepaid card, making it even more appealing overall. Take a look at the card’s fee schedule below.

Walmart MoneyCard FeesPro tip
Monthly service charge$5The fee is waived so long as you have $1,000+ in deposits over the previous monthly period
Reload feeVaries; $0 up to $4.95Reload for free with direct deposit of your paycheck or tax refund, by check at Walmart, or via online bank transfer.
ATM fees$2.50This is a Walmart fee; the ATM operator may also assess additional charges.
Balance inquiry at ATMs$0.50This is a Walmart fee; the ATM operator may also assess additional charges.
Replacement card$3Protect your card as if it were cash and you can avoid this fee.
Bill PayNo fee
Purchase fee$1This is the one-time cost of obtaining a card.
Mobile check depositNo fee
Cash back with purchaseNo fee
Walmart Card Cashing at Walmart Money Centers or customer service desksNo fee
Foreign currency conversion3%Even if you don’t travel overseas, be careful not to make purchases with foreign-based merchants who may assess the fee.

The one main downer with the Walmart MoneyCard is the $5 monthly fee. Over the course of the year, that means cardholders have to pay $60 just to be customers, even if they conduct no transactions at all. The ATM withdrawal fee of $2.50 can add up as well.

However, the card does offer numerous free ways to reload the card, and other common services are free, including bill pay and cashback requests with purchases. The bottom line is that although there are some unavoidable fees with the card, many of the features of the card don’t cost anything.

Using the Walmart MoneyCard app

Walmart MoneyCard App
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The Walmart MoneyCard app is a handy feature that not all prepaid debit cards offer. With the app, you can check on the status of any aspect of your MoneyCard account. As with apps from most banks, you can check your MoneyCard balance, see transactions and find Walmart stores and ATMs near you. However, with the Walmart MoneyCard app, you can also order a new MoneyCard, activate or register a new card, deposit checks with your phone’s camera, order paper checks and update your personal information and account settings. The app can be downloaded for free from both the App Store and Google Play.

Opening a Walmart MoneyCard account

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You can get a Walmart MoneyCard at participating Walmart stores or online at www.walmartmoneycard.com/. Even if you have bad credit, you don’t have to worry about getting approved for the Walmart MoneyCard because it’s a prepaid card, not a credit card.

There is no credit check required when you apply, although you will have to be age 18 and provide personal information, such as your Social Security number, name, address and date of birth, to help combat fraud. After you successfully register, you’ll receive your personalized card in the mail within two weeks.

Who could benefit from the Walmart MoneyCard?

Prepaid cards in general are designed for underbanked customers, particularly those who either don’t want or aren’t allowed to open traditional checking accounts. The Walmart MoneyCard is no different, as it provides debit card services that allow customers to make purchases, along with ATM access, bill pay and other money transfer features. However, the Walmart MoneyCard may be of particular interest to regular WalMart customers. The Walmart ecosystem offers numerous ways for MoneyCard customers to reload their cards, often without fees, and it has a cashback rewards programs for Walmart shoppers. In fact, one could argue that the best features of the card are only available to Walmart customers; for those that don’t shop at Walmart, the MoneyCard might as well just be another prepaid debit card, offering basic services. Net-net, the card is tailor-made for Walmart customers who don’t have a traditional checking account; the card’s features and overall low fee structure make it a winner for this demographic.

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